Solution-Circumstance to base the markup for an item on cost

Question: 1. Under what circumstances would you be likely to base the markup of an item on the selling price?

2. Under what circumstances would you be likely to base the markup for an item on cost?

3. What clues do you look for to determine whether the cost or selling price represents 100% in a markup problem

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Circumstance to base the markup for an item on cost : Under what circumstances would you be likely to base the markup for an item on cost?

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